Zavvi owner Hut Group valued at £250m for flotation

18/05/2011

Online retailer The Hut Group is expected to be valued at £200m to £250m when it floats on the stock market, according to a news report. The Manchester Evening News reports that The Hut is expected to float in the autumn or early next year.

The paper also reports that the firm is also close to clinching another major acquisition, having bought a number of companies in the past, including embattled entertainment retailer Zavvi, which now operates as an online-only store. The paper did not mention the target of The Hut’s latest acquisition, but the deal is ‘understood to be days away from completion’.

18/05/2011

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Founded in 2004, Cheshire- based The Hut sells consumer goods ranging from video games, CDs and DVDs to fashion, footwear, toys, gifts and gadgets, healthy and beauty items, male grooming products and sports goods.

The firm also provides e-commerce services to retailers such as Asda, Tesco, WH Smith and Argos.

Last year, The Hut went on an acquisition trail, buying IwantOneofThose.com, the Lookfantastic Group and Mankind Direct.

Read the full report in the Manchester Evening News here.

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